Aluminium stocks at Japanese ports fall 14% Y-o-Y at the end of April 2024
The latest data revealed by Marubeni Corporation, a prominent Japanese integrated trading and investment business conglomerate, indicates a month-on-month and a year-on-year fall in aluminium stocks across the three major Japanese ports at the end of April 2024.
There have been increasingly evident supply constraints in Japan, leading to declining stocks at the ports. In addition, strong demand in the domestic market contributed to bearish aluminium stocks. As a result, Japan’s aluminium premiums for the April-June quarter saw an uptick to $145-148 per tonne, compared to $90 per tonne during the January-March quarter.
Nonetheless, the port inventories remained above 300,000 tonnes at the end of April, totalling 308,100 tonnes. However, on a month-on-month basis, the stocks stood 2.3 per cent down, while on a year-on-year calculation, the stocks edged 14.03 per cent fall.
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